+0  
 
+1
60
2
avatar+9 

Thanks!

 Oct 3, 2022
 #1
avatar+23 
+1

5%=0.05

so each year, it multiplies by 0.05.

And since is ten years. You just have to calculate 0.05^10

 Oct 3, 2022
 #2
avatar
+1

FV ==PV x  [1  +  R]^N

 

FV==1  x   1.05^10

 

FV ==1.628895  -  1  x  100 ==62.8895% total percentage increase.

 Oct 3, 2022

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